GeneDx price target raised to $19 from $15 at BTIG

BTIG analyst Mark Massaro raised the firm’s price target on GeneDx to $19 from $15 and keeps a Buy rating on the shares. The stock has “hit it out of the park” with its Q1 results showing 51% revenue growth and 61% in gross margins, while boosting its FY24 guidance for revenue and cash burn, the analyst tells investors in a research note. BTIG adds that achieving profitability for GeneDx is coming into clearer sights for the firm and likely others to see.